Bryn Mawr Capital Management LLC Lowers Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Bryn Mawr Capital Management LLC cut its position in Workday, Inc. (NASDAQ:WDAY) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,294 shares of the software maker’s stock after selling 75 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Workday were worth $850,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Bristlecone Advisors LLC grew its position in Workday by 49.6% in the 4th quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker’s stock valued at $754,000 after acquiring an additional 968 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Workday by 7.2% in the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock valued at $7,934,000 after purchasing an additional 1,978 shares during the period. Grafton Street Partners Fund LP acquired a new position in shares of Workday in the third quarter valued at approximately $4,424,000. ICICI Prudential Asset Management Co Ltd increased its stake in Workday by 32.4% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock worth $7,791,000 after buying an additional 7,802 shares during the period. Finally, Nordea Investment Management AB increased its stake in Workday by 20.5% during the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock worth $182,753,000 after buying an additional 119,769 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

WDAY has been the subject of several research reports. Scotiabank started coverage on shares of Workday in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price target for the company. The Goldman Sachs Group upped their price target on Workday from $300.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Wells Fargo & Company upped their price target on Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Morgan Stanley downgraded Workday from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $330.00 to $275.00 in a research report on Wednesday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $300.00 price target on shares of Workday in a research note on Thursday, February 6th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $291.11.

Insider Activity at Workday

In related news, insider Sayan Chakraborty sold 5,498 shares of Workday stock in a transaction on Friday, November 29th. The shares were sold at an average price of $250.78, for a total value of $1,378,788.44. Following the transaction, the insider now directly owns 121,100 shares in the company, valued at $30,369,458. This trade represents a 4.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder David A. Duffield sold 70,003 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $251.20, for a total transaction of $17,584,753.60. Following the transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $25,872,846.40. The trade was a 40.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 438,819 shares of company stock worth $113,142,592 in the last quarter. Company insiders own 20.00% of the company’s stock.

Workday Stock Performance

Shares of WDAY opened at $261.63 on Friday. The company’s 50 day simple moving average is $261.10 and its 200-day simple moving average is $252.54. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The firm has a market cap of $69.59 billion, a PE ratio of 43.39, a price-to-earnings-growth ratio of 3.62 and a beta of 1.35. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the firm posted $0.47 EPS. Workday’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, equities analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Workday Company Profile

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.